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Arbitron Inc. 2008 Equity Compensation Plan Restricted Stock Unit Agreement

Equity Incentive Plan Agreement

Arbitron Inc. 2008 Equity Compensation Plan Restricted Stock Unit Agreement | Document Parties: ARBITRON INC You are currently viewing:
This Equity Incentive Plan Agreement involves

ARBITRON INC

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Title: Arbitron Inc. 2008 Equity Compensation Plan Restricted Stock Unit Agreement
Date: 8/5/2009
Industry: Computer Services     Sector: Technology

Arbitron Inc. 2008 Equity Compensation Plan Restricted Stock Unit Agreement, Parties: arbitron inc
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EXHIBIT 10.3

 

 

 

 

 

Non-Executive Form

 

 

 

Grant No . _________

 

 

o

   Participant’s Copy

 

 

o

   Company’s Copy

Arbitron Inc.
2008 Equity Compensation Plan
Restricted Stock Unit Agreement

To ____________:

     Arbitron Inc. (the “ Company ”) has granted you (the “ Grant ”) restricted stock units (“ RSUs ”) as set forth on Exhibit A to this Agreement (the “ RSUs ”) under its 2008 Equity Compensation Plan (the “ Plan ”), subject to the Vesting Schedule specified on Exhibit A.

     The Grant is subject in all respects to the applicable provisions of the Plan. This Agreement does not cover all of the rules that apply to the Grant under the Plan, and the Plan defines any capitalized terms in this Agreement that this Agreement does not define.

     In addition to the Plan’s terms and restrictions, the following terms and restrictions apply:

 

 

 

Vesting Schedule

 

The Grant becomes nonforfeitable (“ Vested ”) as to some or all of the RSUs only as provided on Exhibit A.

 

 

 

Distribution Dates

 

You will receive a distribution of shares (the “ Shares ”) of Company common stock (“ Common Stock ”) equivalent to your Vested RSUs as soon as practicable following the dates on which you become Vested (the “ Distribution Dates ” as provided in Exhibit A, subject to any overriding provisions in the Plan.

 

 

 

Limited Status

 

You understand and agree that the Company will not consider you a shareholder for any purpose with respect to the Shares, unless and until the Shares have been issued to you on the Distribution Date(s). You will, however, receive dividend equivalents (“ Dividend Equivalent Rights ”) with respect to the Vested RSUs, measured using the Shares they represent, with the amounts convertible into full or fractional additional Vested RSUs based on dividing the Dividend Equivalent Rights by the Fair Market Value (as defined in the Plan) as of the date of dividend distribution and holding the resulting additional Vested RSUs for distribution as provided for the RSUs with respect to which they were issued.

 

 

 

Voting

 

RSUs cannot be voted. You may not vote the Shares unless and until the Shares are distributed to you.

 

 

 

Transfer
Restrictions

 

You may not sell, assign, pledge, encumber, or otherwise transfer any interest (“ Transfer ”) in the Shares until the Shares are distributed to you.

 


 

 

 

 

and Forfeiture

 

Any attempted Transfer that precedes the Distribution Date for such Shares is invalid.

 

 

 

 

 

Unless the Administrator determines otherwise at any time or Exhibit A provides otherwise, if your service with the Company terminates for any reason before all of your RSUs are Vested, then you will forfeit such unvested RSUs (and the Shares to which they relate) to the extent that such RSUs do not otherwise vest as a result of the termination. The forfeited RSUs will then immediately revert to the Company. You will receive no payment for RSUs that you forfeit.

 

 

 

Additional
Conditions

 

The Company may postpone issuing and delivering any Shares for so long as the Company determines to be advisable to satisfy the following:

to Receipt

 

 

 

 

its completing or amending any securities registration or qualification of the Shares or its or your satisfying any exemption from registration under any Federal or state law, rule, or regulation;

 

 

 

 

 

its receiving proof it considers satisfactory that a person or entity seeking to receive the Shares after your death is entitled to do so;

 

 

 

 

 

your complying with any requests for representations under the Grant and the Plan; and

 

 

 

 

 

its or your complying with any federal, state, or local tax withholding obligations.

 

 

 

Taxes and Withholding

 

The RSUs provide tax deferral, meaning that they are not taxable to you until you actually receive Shares on or around each Distribution Date. You will then owe taxes at ordinary income tax rates as of each Distribution Date at the Shares’ value.

 

 

 

 

 

The Company is required to withhold (in cash from salary or other amounts owed you) the applicable percentage of the value of the Shares on the Distribution Date, regardless of whether you sell them. If the Company does not choose to do so, you agree to arrange for payment of the withholding taxes and/or confirm that the Company is arranging for appropriate withholding.

 

 

 

Additional
Representations
from You

 

If you receive Shares at a time when the Company does not have a current registration statement (generally on Form S-8) under the Act that covers issuances of Shares to you, you must comply with the following before the Company will release the Shares to you. You must:

 

 

 

 

 

represent to the Company, in a manner satisfactory to the Company’s counsel, that you are acquiring the Shares for your own account and not with a view to reselling or distributing the Shares; and

-2-


 

 

 

 

 

 

agree that you will not sell, transfer, or otherwise dispose of the Shares unless:

 

 

 

 

 

a registration statement under the Act is effective at the time of disposition with respect to the Shares you propose to sell, transfer, or otherwise dispose of; or

 

 

 

 

 

the Company has received an opinion of counsel or other information and representations it considers satisfactory to the effect that, because of Rule 144 under the Act or otherwise, no registration under the Act is required.

 

A


 
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